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Eurazeo revenues rise

The group had substantial rises in reported sales at Europcar, a car rental company and at ANF, a real estate company.

Eurazeo, a Euronext-listed investment firm, had rises of 70.4 percent on a reported basis to €886.7 million ($1.37 billion) and by 4 percent on a pro forma basis to €852.5 million, for its first quarter consolidated revenues compared to the same period last year.

Europcar, a car rental company, increased revenues by 28.8 percent to €445.9 million on a reported basis. This growth reflected the company’s acquisition of PremierFirst, which completed in February. On a pro forma basis Europcar’s revenues were up 5.1 percent.

B&B Hotels, the hotel group, had a revenues rise of 8.7 percent on a pro forma and reported basis to €35.1 million.

Apcoa, the parking business Eurazeo bought last year, had revenue falls of 3.6 percent to €154.5 million on a pro forma basis and they were €149 million on a reported basis. Eurazeo said: “[The revenue fall was due to] the underperformance in the UK of a limited number of contracts and the change in the management type of one important contract.” Apcoa had strong growth in other European countries, it said.

Elis, the clothing hire company Eurazeo bought for €2.28 billion from PAI Partners, a European buyout firm, had sales rise of 6.9 percent on a pro forma basis to €231.7 million.

ANF, a real estate investment company rose in revenues by 124.3 percent to €14.1 million. It also had a rise in sales of 17.7 percent to €7.2 million, excluding rental income, from B&B Hotels. ANF’s B&B Hotels income is classified as intragroup revenues and is not counted in the consolidated revenues.